Blog|1 min

How Digital Transformation in Accounting is Changing the Bookkeeping Profession

Stefanie Redmond
Bill.com, Senior Marketing Manager

The bookkeeping industry is ready for a rebrand. Bill.com’s 2021 State of Bookkeeping Practices Survey has revealed that businesses see their bookkeepers as much more than just credit and debit managers. They are also considered critical lifelines to growth who are perfectly positioned to accelerate an accounting digital transformation revolution. As digital-driven services become commonplace, bookkeepers will become true advisors to their clients and a top destination for talent.

This will be particularly important as client demands grow and revenue increases.

When we asked bookkeepers to rate where their digital transformation stands today, they gave themselves a 6.7/10. That equates to a “D” letter grade—ouch!  The primary factor still holding bookkeepers back is their reliance on paper-based processes. Fortunately, a digital transformation in accounting is well underway.

At the same time, demand for advisory services is driving new talent needs and ROI.

The past year called on bookkeepers to step up to the plate like never before, acting as advisors, business stabilizers, and even therapists to their clients. As demand continues and client needs evolve, bookkeepers will have more opportunities to demonstrate their value, increase effectiveness, and deliver against new expectations. Bookkeepers aren’t just up to the task—they’re leading the way.

Across all trends, the responses to this year’s State of Bookkeeping Practices Survey demonstrate how significantly the bookkeeping profession has changed over the past year—and will continue to evolve into 2022.

The full survey report and infographic is available for download here.


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